AMP’s Australian Core Property Portfolio and Sunsuper have received development approval for a new 12 level office building at the Coronation Drive Office Park (CDOP) precinct, the largest CBD fringe office complex in Brisbane.
The office precinct which is located just two kilometres from the Brisbane CBD in the riverside suburb of Milton is jointly owned by investors in AMP’s Australian Core Property Portfolio and Sunsuper and is managed by AMP Capital.
The proposed development of Coronation Drive Office Park Building 7 (CDOP7) at 45 Cribb Street, Milton, will be a 27,718 square metre A-Grade office building made up of 26,548 square metres of office premises and 1,170 square metres of retail premises.
AMP Capital’s Fund Manager for the Australian Core Property Portfolio Louise Joslin said she was very pleased to have received development approval from the Brisbane City Council for the next significant stage of development at the CDOP precinct.
“Our vision is to continue to deliver contemporary office developments in accordance with the Milton Station Neighbourhood Plan, and to strengthen the role of Milton as a key fringe business centre and employment hub,” Ms Joslin said.
“The CDOP7 precinct will provide a much needed destination in the western suburbs of Brisbane that will cater for not only the workers but also the broader community.”
Other features of the development include:
- A new extension of the existing council road, Railway Terrace, through the office precinct, improving access to Milton Railway Station.
- An urban common of 1,300 square metres including a mix of indoor and outdoor dining and retail.
- An end of trip facility for joggers and cyclists (providing showers, lockers and bike racks), complimenting the proximity and easy connection to the Bicentennial Bikeway.
The typical office floor plate will be approximately 2,400 square metres which will be among the largest in Brisbane and will cater especially well for tenants who are intending to implement activity based working.
CDOP7 is targeted to be a 5 Star Green Star building and 5 Star NABERS energy rating.
AMP’s Australian Core Property Portfolio and Sunsuper have owned the CDOP site since 1998 and have previously undertaken two significant developments, the latest being the 12 level CDOP4 in 2009.